Renewables could help cut the cost of miner’s energy bills by half
According to a paper released by Deloitte, the mining industry could save up to 50% on energy costs through implementing effective energy management programs.
The paper, dubbed Renewables in Mining, discusses the influence that renewable energy sources have on the sector, and the advantages of utilising them more.
Renewables would offer a competitive advantage, as well as reducing greenhouse gas emissions and make energy use at operations more manageable.
According to Deloitte’s Consulting Mining Leader, David Cormack, energy is one of the largest expensive of the industry, covering 30% of total operating costs.
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“Our analysis shows that having an effective energy management program in place, and with renewables a major component of this, miners can substantially reduce their energy costs, by up to 25% in existing operations and 50% in new mines.”
“With renewable energy fast becoming a mainstream energy source, mining companies have a material opportunity to use renewables to lower costs, improve safety, reliability and sustainability, and mitigate risks to ultimately gain a competitive advantage,” he comments.
“The ability to reduce emissions and preserve, or enhance, the mine’s social license to operate increases the size of the prize even more.”
The benefits of renewables are even greater when they are used for the planning, design, and building of new mines.
